October 23, 2009

Where did all of the For Sale Signs?

Another month and the overall number of available Single Family homes in Montgomery County is down 6.3% from last year this time. Though this is discouraging to many buyers…especially those that are trying to settle by November 30th to take advantage of the $8000 tax credit, the good news is that there has been an increase in the number of homes going under contract (37.8%) as well as those that are settling (6.9 %).

This is great news for Sellers! Inventory is at a historic low as well as interest rates. This creates more demand than ever for your home. There are more buyers in the lower MontgomeryCounty market than there are homes to buy! Shockingly, I have seen good homes staged and priced well sell in 2 days!!!

Existing home sales are on the upward trend across the county with a 9.4% increase from September 2008 and specifically here in Montgomery County we are above the National average (up 11.8% from last year). With a solid economy in our area, new job projections, limited inventory and favorable buying incentives like low interest rates and a tax credit, if you are contemplating selling your home, NOW IS THE TIME!!

**All stats are according to NAR (National Association of Realtors) and GCAAR (Greater Capitol Area Association of Realtors).